In 2012 renewable energy — largely wind and solar — accounted for nearly 50 percent of all new electric generation put on the U.S. grid. According to a new Ernst & Young report, United States renewable energy attractiveness indices, 13.1 gigawatts of wind were added to the grid last year, as was 3.3 gigawatts of photovoltaics (PV).

“While overall U.S. investment in clean energy is down, it’s still ahead of annual investment from prior years,” said Michael Bernier, senior manager, National Tax, Ernst & Young. “What’s important to note is that the $44.2 billion invested is not representative of the industry’s true expansion. Solar technology, for example, is increasingly cost effective. As prices fall, the initial investment goes a lot further. $1 billion installs a lot more solar than it did five years ago.” The company also report earlier this year that U.S. is now the most attractive country for renewable energy investments.